Dental practices may benefit both as employers and as healthcare providers from a new U.S. tax credit for small businesses that offer dental, medical, and vision benefits.
Businesses with less than the equivalent of 25 full-time workers who earn average annual wages below $50,000 may be eligible for the tax credit, the Internal Revenue Service said in a May 17 announcement. The credit is worth up to 35% of the business' healthcare insurance premiums, including dental, starting with the 2010 tax year. The rate will rise to 50% in 2014.
The credit will phase out gradually for firms with the equivalent of 10 to 25 full-time workers.
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